资源描述：
《reva指标在企业经营业绩评价中的应用（application of reva index in evaluation of enterprise operation performance）》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。
1、reva指标在企业经营业绩评价中的应用（ApplicationofRevaindexinevaluationofenterpriseoperationperformance）NationalcoreperiodicalsofChina-accounting.2009.6midEVAtakesfullaccountofthebalancesheetandprofitstatementprovidedbythecompanyToacertainextent,itmakesupthedefectsofthetraditionalaccountingindicators
2、,sothatmanagersbeginPayattentiontotheeffectivenessofmanagementandtheprofitabilityofcapital,soastoimprovetheefficiencyofcapitalallocationTherateof.EVAispositive,indicatingthatthecompanyhascreatedvaluefortheshareholdersinthecurrentperiod;EVANegative,indicatingthatthecompanyreducesshare
3、holdervalue.ButEVAisconcernedonlywithbusinessesThecurrentoperatingsituationdoesnotreflectthemarket'sfutureperformanceofthecompany'spre-Test.Therefore,Bacidoreetal.(1997)basedontherevisionofEVACorrectedEVA,thatis,REVA.ThebasicideaistotakethemarketvalueofcapitalInsteadofcarryingeconomi
4、cvalue,thevalueismeasuredbycompanyvalue.OneREVADesignprincipleWecandividethecompany'svalueintotwoparts:Partofthecompanytangibleassets,Includingplant,equipment,Operatingcapital,etc,Anaccountofthecompany'sassetsAnotherpartisthenetpresentvalueofthecompany'spresentandfutureinvestmentoppo
5、rtunities,Itisdrivenbythecompanystrategyandbelongstotheintangibleassets,andoccupiesaconsiderableamountinmanyenterprisesProportionshouldnotbeneglected.stayEVAmodel,thecostofcapitalusedtocreateanetprofitisbasedontheenterpriseThecalculationofthecarryingeconomyvalueoftheindustry,thatisto
6、say,fromtheEVAangleofviewThecapitalinputofoperatingprofitismeasuredbyBookEconomicvalue.ButatREVAThetotalamountofcapitalcreatedbyprofitisnotbookeconomicvalue,butmarketvalue.becauseIntheory,Atthebeginningofanyfiscalyear,InvestorscanmakemoneyItissoldatitsmarketvalue,Thenputtheproceedsin
7、tothesameriskyassets,TheexpectedreturnofweightedaveragecapitalcostisobtainediftheinvestordoesnothavetheassetLiquidationresultsinthelossoftheexpectedreturnontheweightedaveragecostofcapital.fromInthissense,withinanagreedperiod,iftheenterpriseistrulyaninvestorCreated"profit("Managements
8、urplus),Then
